Shanghai has been ranked among the top 3 global financial hubs, following New York and London, according to the 28th edition of the Global Financial Centers Index report launched on Friday.
Shanghai moved up one place to third and Tokyo dropped one place to fourth, although only one point separates them in the ratings, according to the report jointly released by the city of London’s think tank Z/Yen Group and Shenzhen’s China Development Institute.
Similarly, Hong Kong moved up a place to rank fifth and Singapore fell one place to sixth, again with only one point separating the two cities in the ranking.
Shenzhen and Zurich entered the top ten in this edition, replacing Los Angeles and Geneva.
Within the top 30 centers, Luxembourg, Boston, Seoul, and Madrid rose by more than five places.
The index tracked 121 financial centers globally, with 111 centers in the main index.
Regionally, Asia/Pacific Centers had a mixed performance in GFCI 28, with ten centers falling in the rankings and 14 rising. Taipei, Chengdu, and Qingdao all rose more than 30 places in the rankings.
Read more in Shanghai Daily